v3.26.1
Note 2 - Property and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

NOTE 2.    PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

 

  

June 30,

  

December 31,

 

(In thousands)

 

2026

  

2025

 

Land

 $362,178  $356,696 

Buildings and improvements

  3,436,043   3,365,328 

Furniture and equipment

  2,004,991   1,980,090 

Riverboats and barges

  194,445   194,292 

Construction in progress

  376,972   271,603 

Total property and equipment

  6,374,629   6,168,009 

Less accumulated depreciation

  (3,365,022)  (3,296,625)

Property and equipment, net

 $3,009,607  $2,871,384 

 

Depreciation expense is as follows:

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 

(In thousands)

 

2026

  

2025

  

2026

  

2025

 

Depreciation expense

 $85,478  $65,563  $175,813  $129,366 

 

During the six months ended June 30, 2025, as a result of our first quarter 2025 impairment review, the Company recorded a long-lived asset impairment charge of $32.3 million for property and equipment related to our Las Vegas Locals segment. To determine the value of the long-lived asset and the resulting impairment, we utilized the income approach which focuses on the income-producing capability of the asset. This noncash impairment charge is recorded in impairment of assets on the condensed consolidated statement of operations. There were no impairments of our property and equipment long-lived assets during the six months ended June 30, 2026.